Most people are going to come up against a situation in their life where they run out of cash before they run out of bills, and when they do they’re going to be looking for some time of personal loan to get them through to their next paycheck. Below I’ll discuss a few types of unsecured and secured personal loans that might be a good fit for your situation.
Bad Credit Signature Loans
Yes – there is such a thing as a loan that doesn’t require collateral but is still available to people who’ve messed up their credit rating in one way or another. Here’s what you’re up against – banks, even payday loan providers, aren’t going to throw money at you just because you need some cash to buy groceries or get the muffler on your car fixed. They’re going to want to see proof that you can repay the loan; which could come in the form of showing them several pay stubs or maybe a reference from your landlord saying how faithful and punctual you are in paying your rent every month. These types of loans are definitely going to come with some fees and a not-so-great interest rate, but you do what you have to do to get by. After taking out and repaying a few of these you might be able to get your credit score to a point where traditional lenders will look at you.
Guaranteed Unsecured Personal Loans
When you’re talking about any type of guaranteed personal loan it usually means two things: first, the person seeking the loan probably messed up his or her credit at some point, which means the only loans available are bad credit loans. Second, guaranteed loans often refer to loans that an organization (such as the government or veterans administration) will back up so the lender can feel a little more at ease about getting their money. Again, with these types of quick personal loans you’re not going to be offered low interest rates or favorable terms in general. After all, your past bad behavior has proven that you’re a risky investment for any lender. Their ability to stay in business depends on how wisely they lend money. The up front fees and high interest they charge on your loan protect them from going through what you want to avoid most – bankruptcy. Recognize that they need to be paid for the risk they’re taking, but while you’re paying them back you’re improving your ability to borrow in the future in a way that’s better for you.
Signature Loans with No Credit Check
There are going to be times when your life circumstances don’t let you go through a long personal loan approval process. In those times fast unsecured personal loans are going to be your best bet. These are the kinds of loans you’d get at your local payday loan store – you walk in, fill out the paperwork, and often you have your personal loan disbursement within just a couple of hours. If you’re in need of emergency cash, these are the best loans for you, although they come at a price. If you don’t want to get one of these in-store or in a bank you can always opt to look into online signature loans; these are ones which you can apply for at the click of a mouse. You might pay anywhere from 5% to 15% of the loan amount in fees, not to mention the fact that you’re going to end up with an interest rate that sneaks up on 30% – which makes even the worst credit cards look appealing. Borrow these loans wisely – they’re for emergencies only.
Unsecured Personal Loans With Bad Credit
Your credit might get to a point where it would be pointless to check your credit anyway – so you might as well approach a lender who offers unsecured loans no credit check. They do exist, but this isn’t exactly the premium lending world. These lenders are willing to lend to give loans to people with very bad credit, but not without covering their risk. The way they manage their risk and maximize their reward is by a) charging you fairly large fees when you take the loan out, and b)making sure the interest rate is in their favor – not yours. If you can handle these conditions then this kind of loan could be a good fit.
“Banks Compete. You win.” Right? That’s LendingTree.com‘s catchy slogan. The question is, do banks compete for your business if you have bad credit?
Not as aggressively, it’s safe to say, but there interest to compound and fees to charge on loans made to people with low Fico scores. So yes, I’d say banks may still want to compete for your attention, and Lending Tree may be the place to do it.
What kind of loan are you looking for? Lending Tree is probably best known as a mortgage company, but they offer all different kinds of financing, from auto loans to student loans, all the way to personal loans.
Lending Tree Bad Credit Personal Loans
You have to dig … Read the rest
There’s only one reason you don’t want lenders checking your credit as part of a loan application – your credit stinks. Really bad credit guarantees really expensive loans.
So if you want guaranteed loans no credit check, you’d better be prepared for the consequences. It’s not an exaggeration to say that taking on this kind of debt could take a bad financial situation and turn into a total personal finance nightmare.
I’m convinced that the majority of people who take out any sort of guaranteed approval personal loan have no idea what it could do to them long term. The interest rates are so high that you can end up paying back two or three times the original loan amount … Read the rest
Good credit is an asset. You already know it makes home and auto ownership possible, but you may not have considered the fact that your high fico score can bail you out in an emergency. See, the only way you’re going to get unsecured signature loans is with a good credit score and a well-established credit history.
The amount you can borrow, of course, depends on more than your credit score. You could have a perfect 850 Fico and lenders still won’t give you an unsecured signature loan for two reasons: inadequate income and/or excessive debt.
A loan is always extended based on the most basic assumption: your ability to make timely payments. Lenders need to know the new payment … Read the rest
Today, Georgia is one of the many states in the America which has abolished and prohibited payday loans. If you think that you might need payday loans in the future, do not live in Georgia. You will never be able to find Georgia payday loans now. Payday loans can be very helpful to people who are in dire need of money to get them through until the next payday. They can be the salvation for people who need money urgently.
However, payday loans are frowned upon today. This is because of the fact that payday loans are very notorious for high interest rates and terms which are only favorable to the lender and not the borrower. Payday loans started appearing … Read the rest
By definition, a signature loan requires nothing more than your name on the dotted line for approval. But “nothing more than your signature” means “we’re not asking for collateral.” A signature loan doesn’t require collateral. But why doesn’t it require collateral? Because the applicant’s credit score and credit history are so good that the lender isn’t concerned about losing his money. Your word and your track record are enough to give him that peaceful feeling that he’s going to get back all the money he lent you, plus a healthy amount of interest.
In other words, getting a guaranteed approval signature loan requires good credit AND a well-established history as a borrower. If that’s not you, well, you’re going to … Read the rest
You don’t want to pay fees. Fine. There are online lenders who will accommodate you, but you have to know they’re going to get their money somehow. So if you don’t want fees you should be prepared for other aspects of the loan to be even worse.
Do the math:
If a lender says they’ll give you guaranteed signature loans with bad credit and no fees, how much can they earn on a $1,000 loan?
Loan Amount: $1,000
Fees: $0
Loan Term: 21 days
Interest Rate: ?
Why the question mark next to interest rate? Because even though they may quote you 10% of the total loan, if you factor in the term (21 days), you’re actually going to be … Read the rest
According to Lending Tree, a personal loan can be used for anything from debt consolidation, a wedding, a vacation, or other personal uses. There is technically no restriction on what exactly a personal loan can be used for, but sometimes people opt for a home equity loan, or an auto loan, for certain other expenses.
There are some risks to personal loans, however. While it’s great to think about being able to buy virtually anything with a $25,000 personal loan – from a boat to a vacation to dirtbikes – its important to know that they often carry much higher interest rates than other loans. We calculated a 60-month, $25,000 personal loan in New York at over 10%. As … Read the rest
I Need a Loan ASAP, But My Credit Score Is Terrible
Having bad credit doesn’t necessarily mean the money you need is out of reach. Loans for people with less than desirable credit scores are out there because it’s something there is a demand for, but unfortunately the process of getting the money won’t be without consequences. These consequences might be worth facing depending on the nature of your financial emergency, but think it through carefully before taking on a loan you can’t afford to pay back.
What is the easiest type of loan to get with bad credit?
There’s a great chance you can get approved for a payday loan with a bad credit score. Most payday lenders require … Read the rest
Every day numerous people sign up for personal loans. A personal loan is something offered by hundreds of companies and they are often in competition with one another. They employ various ways of getting a person’s attention so if you are thinking of getting a personal loan you have to be a bit choosy about which company you should sign up with – many say they offer bad credit personal loans up to 5000, but how often is it really the case? It is a must ton be wise when signing up for a personal loan. You would want to get the best rate possible. You want terms which are advantageous to you.
The process of getting a loan … Read the rest
Applying for any kind of loan becomes a bit of a chess match doesn’t it? You and the lender sit across the table from each other – you’re looking to get as much money as possible while sharing as little information and paying as little interest as possible. The lender wants to lend money – as much money as they profitably can. They just want to make sure all that money gets paid back. So whether you want a small signature loan with no credit check or a full blown $5000 loan no credit check, you better know how to put the lender at ease about your ability to repay.
Do you realize you’re asking quite a bit of … Read the rest
The interest rate on any loan is obviously determined by a variety of factors, but you should realize that your interest rate is ultimately a reflection of how risky lenders consider you. In other words, they’re going to charge you interest based on their evaluation of how likely you are to a) make your payments on time, and b) make all your payments until the entire loan has been repaid. The more likely they think you are to make payments late, or not make them at all – the higher the rate they’re going to charge you on the money you’re being lent.
With all that understood, you can see why high interest loans for people with bad credit exist. … Read the rest
Starting and running a business of any size is a tough thing to do, and the toughest part of it can be figuring how to make the money last from month to month. Long sales cycles, clients who take their sweet time paying outstanding invoices, and vendors who hound you to pay your outstanding bills can all add up to a pretty serious cash crunch. When that happens you have to float the business somehow, and many business owners end up turning to credit cards. This is true in the manufacturing, the retail, and even the construction world.
I recently heard a story of a construction company owner who put about $200,000 on his credit card to float the bills … Read the rest
The whole industry of personal loans lending has become one of the most hated and controversial aspects in the world of finance and banking. Why? Because on the surface it seems to be true that the business operating in this market are taking advantage of the poorest segment of society, lending them money they may or may not be able to pay at almost unimaginable interest rates. While this assessment of the industry isn’t completely unfair, it’s not realistic to say that every person who ever uses personal money lending is down to their last dollar, just about to move onto the streets. There are plenty of examples to the contrary.
One example would be commission-based salespeople. I spent a … Read the rest
There are so many reasons you’d want to erase bad credit – some of them are financial (because you need decent credit to borrow money for important things like houses, vehicles, and education), and some of them are personal (because let’s face it…having terrible credit is embarrassing – it makes you feel like a second class citizen). Advertisers know how desperately people want to be able to repair their credit, and saying “you can absolutely make all your credit blunders disappear!” has a lot of appeal in the marketplace. There’s only one problem: it’s just not true.
The FTC (Federal Trade Commission) has come right out and said that it’s actually not possible to get bad credit erased completely. Your … Read the rest
Anyone planning to go through the debt reduction negotiation process can hope to accomplish a few things:
eliminating all debt over a three to four year period, in spite of being months behind on payments with large balances
getting the ball rolling by negotiating a 40%+ reduction in principle balances with debtors
avoiding bankruptcy as well as expensive debt consolidation loans
All of these objectives are possible, but they’ll come at a price. You’ll have both the hard dollar cost of the debt settlement negotiation as well as the resulting damage to your credit score (which may not be much of a concern for anyone who’s in deep enough that they’ve reached this point).… Read the rest
So what do debt negotiation companies
Is it possible to get an auto loan after a repossession?
Yes, it’s completely possible. Depending on the dealer you’re working with it could be very easy or very hard to get car financing after you’ve had a car taken by the bank. Ironically, the easiest lending situations won’t always be the most desirable for you. Let me explain:
Certain car dealerships – usually those with the somewhat homemade looking banners hanging on the front of their office that say “everyone is approved!” – should be avoided like the plague. Here’s a quick glimpse into how they operate: first of all, they take used cars of questionable dependability and they price them something like 20% above their bluebook value. Then … Read the rest
Most people don’t realize that mobile home loans behave very much like traditional home loans. That might come as a surprise since mobile homes can ‘pick up and move,’ but it’s true. Mortgages for mobile homes have a lot of the same characteristics as loans on houses that are ‘stuck,’ including the ability to borrow money against their own value. It’s true – mobile home equity loans are a very real thing, even if you have bad credit. The only real difference between an equity loan you’d take out on your mobile residence and the kind I’d take out on mine will likely be the difference in amounts. Since single family homes tend to be a lot more expensive, there’s … Read the rest
There are actually quite a few different options for loans that aren’t going to require a credit check. Here are just a few:
Personal Loans with No Credit Check
The ‘tongue in cheek’ variety of these kinds of loans – you know, the ones where they don’t check your credit before they give you the money, are those issued by your brother, mother, co-worker, bowling buddy, etc. You get the point. These are lenders who might give you that ‘personal’ loan and not check your credit. I say that half-joking, but the reality is friends and family might be the best option for you to borrow some fast, relatively low interest cash from.
If you can’t borrow funds from those … Read the rest
No matter what anybody says, the American Dream is still to own your own business, your own income stream, and your own time. I’ve been a full time entrepreneur for a while now, and as I write this I’m sitting in my office feeling happy and grateful that I have a lot of say in my own financial destiny. But the reality is that starting a business can be an intimidating thing, and getting it off the ground usually requires more cash than most people have. And if you’ve hurt your credit at some point you might have to see about qualifying for bad credit startup business loans.
The fact is you can still get financing if your personal credit … Read the rest
There’s almost no stress that weighs more heavily on a person’s mind than the worry caused by excessive debt. It’s an interesting thing to observe what debt does to a person’s psyche – it crushes their creativity, nearly eliminates their ability to set goals and dream about a better future, and it can even damage a person’s physical health. What it all comes down to is that debt is bondage; it’s a form of self-inflicted slavery from which everyone who’s in it wants to escape. Don’t worry – if you’re sitting there saying “Yes, but I have no idea how to reduce my debt,” there’s hope. It’s not going to be an easy path, but you can absolutely get there.… Read the rest
Posted in 
